{
  "crd_number": 310205,
  "slug": "cai-manager-lp-mill-valley-ca-310205",
  "primary_business_name": "CAI MANAGER LP",
  "legal_name": "CAI MANAGER LP",
  "dbas": [
    "CLIMATE ADAPTIVE INFRASTRUCTURE"
  ],
  "city": "Mill Valley",
  "state": "CA",
  "country": "United States",
  "cbsa_code": "41860",
  "metro": {
    "cbsa_code": "41860",
    "common_name": "San Francisco",
    "msa_name": "San Francisco-Oakland-Fremont, CA",
    "path": "/advisors/ca/san-francisco"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2020-11-09",
  "years_registered": 5,
  "period": "2026-10-01",
  "filing_date": "2026-09-21",
  "carried_forward": false,
  "raum_total": 2177689001.0,
  "raum_discretionary": 2177689001.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 17,
  "advisory_employees": 12,
  "client_count_bucket": null,
  "clients_by_type": {
    "pooled_investment_vehicles": {
      "raum": 2177689001.0,
      "count": 13
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "CA"
  ],
  "websites": [
    "https://climateadaptiveinfra.com",
    "https://linkedin.com/company/climate-adaptive-infrastructure/about"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/310205",
  "city_as_filed": "MILL VALLEY",
  "url": "https://advisorcensus.com/firm/cai-manager-lp-mill-valley-ca-310205",
  "display_name": "CAI Manager LP",
  "summary": "CAI Manager LP is an SEC-registered investment advisory firm in Mill Valley, CA, registered since 2020, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated September 21, 2026.",
  "citation": "AdvisorCensus. CAI Manager LP (CRD 310205): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)"
  ],
  "quick_answers": [
    {
      "q": "How is CAI Manager LP compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), CAI Manager LP reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "How much does CAI Manager LP charge?",
      "a": "Its Form ADV Part 2A brochure dated March 26, 2026 states: Asset-based fee: 1% to 1.75% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is CAI Manager LP located?",
      "a": "CAI Manager LP's principal office is in Mill Valley, CA, according to its Form ADV; the October 2026 filing also lists 1 other office (Schedule D, Section 1.F)."
    },
    {
      "q": "Is CAI Manager LP registered with the SEC or a state?",
      "a": "CAI Manager LP is an SEC-registered investment advisory firm, registered since 2020. Status as filed: Approved. CRD 310205."
    },
    {
      "q": "How much does CAI Manager LP manage?",
      "a": "CAI Manager LP reports $2,177,689,001 in regulatory assets under management in its Form ADV filing dated September 21, 2026 (100% discretionary)."
    },
    {
      "q": "How have CAI Manager LP's assets and staff changed since 2021?",
      "a": "In the Form ADV data for CAI Manager LP: Regulatory assets under management: $234,615,648 in the October 2021 data and $2,177,689,001 in the October 2026 data, up 828%. Total employees: 6 in October 2021 and 17 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does CAI Manager LP serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (13)."
    },
    {
      "q": "Does CAI Manager LP report any disciplinary disclosures?",
      "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/310205"
    },
    {
      "q": "What changed in CAI Manager LP's recent Form ADV filings?",
      "a": "In the October 2026 filing data: Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 234615648.0,
      "total_employees": 6,
      "filing_date": "2021-09-23"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 749009500.0,
      "total_employees": 9,
      "filing_date": "2022-07-28"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 1176301130.0,
      "total_employees": 9,
      "filing_date": "2023-07-21"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 1376488081.0,
      "total_employees": 15,
      "filing_date": "2024-03-28"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 1523908362.0,
      "total_employees": 17,
      "filing_date": "2025-03-27"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 2177689001.0,
      "total_employees": 17,
      "filing_date": "2026-09-21"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-10-01",
      "period_label": "October 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $1,523,908,362 to $2,177,689,001 (+43%)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 26, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": "1% to 1.75% a year",
    "stated_maximum": null,
    "account_minimum": null,
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Asset-based fee",
        "statements": [
          "Asset-based fee: 1% to 1.75% a year (a range, as the brochure states it)"
        ],
        "quotes": [
          "Each limited partner of a Fund that is not designated as an “affiliated partner” by the General Partner will pay an annual Management Fee equal to between 1% and 1.75% of such limited partner’s capital commitment to the Fund"
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": [
        1.0,
        1.75
      ],
      "max_pct": null,
      "account_minimum": null,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "Each limited partner of a Fund that is not designated as an “affiliated partner” by the General Partner will pay an annual Management Fee equal to between 1% and 1.75% of such limited partner’s capital commitment to the Fund"
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/cai-manager-lp-mill-valley-ca-310205.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 13,
      "fewer_than_5": false,
      "raum": 2177689001.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/310205",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}